Sei Investments Co. Purchases 106,532 Shares of Circle Internet Group, Inc. $CRCL

Key Points

• Sei Investments increased its Circle Internet Group stake by 1,687.5% in the first quarter, buying 106,532 additional shares and bringing its holdings to 112,845 shares valued at $10.8 million.
• Circle reported quarterly revenue of $694.1 million, up 20% year over year, but its $0.21 EPS missed the $0.27 analyst consensus. The stock opened at $62.55, well below its 52-week high of $189.92.
• Analyst sentiment remains mixed, with the stock carrying an overall “Hold” rating and an average price target of $109.81. Insiders sold approximately $151.8 million of shares during the latest quarter, largely through pre-arranged trading plans.

Sei Investments Co. lifted its position in shares of Circle Internet Group, Inc. (NYSE:CRCL - Free Report) by 1,687.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 112,845 shares of the company's stock after buying an additional 106,532 shares during the quarter. Sei Investments Co.'s holdings in Circle Internet Group were worth $10,766,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of CRCL. Rockefeller Capital Management L.P. boosted its position in shares of Circle Internet Group by 17.8% during the 4th quarter. Rockefeller Capital Management L.P. now owns 255,222 shares of the company's stock valued at $20,239,000 after purchasing an additional 38,567 shares in the last quarter. Travelers Companies Inc. bought a new stake in Circle Internet Group in the fourth quarter worth approximately $9,557,000. Sumitomo Mitsui Trust Group Inc. increased its holdings in Circle Internet Group by 98.2% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,575,684 shares of the company's stock worth $204,252,000 after purchasing an additional 1,276,310 shares in the last quarter. Fifth Third Bancorp acquired a new position in Circle Internet Group in the first quarter valued at approximately $7,282,000. Finally, Alberta Investment Management Corp acquired a new position in Circle Internet Group in the fourth quarter valued at approximately $25,027,000.

Circle Internet Group Stock Performance

Shares of NYSE:CRCL opened at $62.55 on Friday. Circle Internet Group, Inc. has a 52-week low of $49.90 and a 52-week high of $189.92. The business's 50 day simple moving average is $76.03 and its two-hundred day simple moving average is $86.60. The firm has a market cap of $15.55 billion and a P/E ratio of -19.55.

Circle Internet Group (NYSE:CRCL - Get Free Report) last released its quarterly earnings data on Monday, May 11th. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.06). Circle Internet Group had a negative net margin of 2.76% and a positive return on equity of 2.89%. The firm had revenue of $694.13 million for the quarter. The firm's quarterly revenue was up 20.0% on a year-over-year basis. On average, equities analysts forecast that Circle Internet Group, Inc. will post 0.79 earnings per share for the current fiscal year.

Analyst Ratings Changes

CRCL has been the topic of a number of research analyst reports. HC Wainwright upgraded Circle Internet Group from a "neutral" rating to a "buy" rating and increased their price target for the stock from $85.00 to $150.00 in a report on Monday, May 18th. Freedom Capital upgraded shares of Circle Internet Group to a "hold" rating in a research note on Tuesday, April 21st. Weiss Ratings reiterated a "sell (d)" rating on shares of Circle Internet Group in a research report on Friday, July 17th. KeyCorp assumed coverage on shares of Circle Internet Group in a research note on Tuesday, May 26th. They set a "sector weight" rating on the stock. Finally, Raymond James Financial started coverage on shares of Circle Internet Group in a report on Tuesday, July 21st. They issued a "market perform" rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, Circle Internet Group currently has an average rating of "Hold" and an average price target of $109.81.

Insider Buying and Selling

In related news, Director Patrick Sean Neville sold 1,034,396 shares of Circle Internet Group stock in a transaction on Monday, June 8th. The shares were sold at an average price of $82.87, for a total value of $85,720,396.52. Following the completion of the sale, the director owned 2,018 shares of the company's stock, valued at approximately $167,231.66. This trade represents a 99.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Jeremy Allaire sold 56,200 shares of the business's stock in a transaction on Friday, June 5th. The shares were sold at an average price of $82.93, for a total transaction of $4,660,666.00. Following the sale, the chief executive officer owned 510,579 shares of the company's stock, valued at $42,342,316.47. This trade represents a 9.92% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,914,327 shares of company stock worth $151,802,213 over the last quarter. Corporate insiders own 10.85% of the company's stock.

About Circle Internet Group

Circle Internet Group NYSE: CRCL is a financial technology company that builds infrastructure to enable businesses and developers to use and move money on public blockchains. Co-founded by Jeremy Allaire and Sean Neville, the company is best known as a principal issuer and steward of USDC, a dollar-pegged stablecoin developed through the CENTRE Consortium, which Circle co-founded with Coinbase. Jeremy Allaire serves as CEO and has been a visible leader in the company’s strategy and public engagement around digital currency and payments innovation.

Circle’s core products and services center on digital currency issuance and programmable payments.

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